$MGM is looking to come out of its base that is has been consolidating for the past 6 months or so. Daily and Weekly both good look to continue the strong uptrend.
W1 - Double cycle, price respecting 61%. We might see a range. If there are no buys from the zone where the price currently is, we will be looking for buys in the next zone. D1 - We have a range, price is at the bottom, we might expect it to reach the top. H4 - Intraday cycle, bullish divergence, price reaches the magnet zone. Aggressive - Wait for breakout...
Text-book ellipse breakout with expanding volume, what a beauty! Huge upside potential, $PENN is looking wonderful too. Yeah I said it....ellipse breakout!!
I really like to see the kind of wide agreement we are seeing in price action among the gaming stocks. I'm not yet willing to buy into this but am feeling a blast to the upside coming especially with the big inverted head and shoulders in motion.
looking good if it breakouts i will buy previously missed same pattern on silver monthly but will take this one for sure Reasons To Buy: Channel Breakout Trend Reversal Formation Excellent Risk To Reward Ratio Trade Financial Institutions Expecting Longs Consolidation in this region for a long term Stocks Shows increase in volume Indicators are turning positive
If Market closes below 18.20 Level which financial institutions are watching right now then i will be shorting it with take profits@ flag Reasons to short 1-Market in downtrend 2-Market moving in downward channel or wedge that retail traders know off 3- market showing vertical resistance on top 4-Market rejecting from upper vertical resistance 5- Market...
MGM expected to open at 21.05 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
Long over 21.70 via Dec 22-24 calls. Earnings coming up next week. Will trim half prior.
MGM brought huge volume yesterday to form a pin bar at support. This support level was hit with some momentum divergence and should hold. I am looking for a retest of 24.80s for a 1:1.5 RR ratio. Price has broken the high of yesterday, and this pullback should provide a good entry point of which to take advantage.